Russian Ruble Made a Strong Comeback While Yen, Gold Were Weaker

European stock markets closed with strong gains Tuesday after Russian President Vladimir Putin said in a news conference that there is "no need yet" to use military force in Ukraine, taking some heat out of the exchanges between the two countries in recent days.

In the core markets, Germany's DAX gained 2.5%, France's CAC 40 was 2.5% higher, while the U.K.'s FTSE 100 rose 1.7%. This positive tone was repeated in the Russian market, which had been battered Monday. The benchmark Micex stock index in Moscow closed...